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Companies to seek Competition Commission approval before Takeovers

Competition watchdog Competition Commission of India (CCI) today said that it will finalize the rules and regulations on merger and acquisition (M&A) provisions by the end of April, a development that would make it mandatory for companies to seek the commission’s approval before takeovers.

The regulations regarding the forms which are to be applied for and documents which have to be attached are among the operational details that are to be notified, CCI Chairman Dhanendra Kumar said on the sidelines of an Assocham event.

We should be able to notify the regulations by the end of this month or at the most by the beginning of next month, he said.

The Commission has received a number of comments, suggestions, representations on the draft regulations from India and overseas, he said, adding, “we are analysing them and will take a view on all these suggestions and inputs before we finalise the regulations”.

Watch Interview with Dhanendra Kumar

Tag: Competition Commission

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